PRICOVIS (Project Risk and Complexity Visualization Tool) has been developed with the support of TUBITAK (Project Number : 217M471) by METU Project Risk Research Group(www.prrg.ce.metu.edu.tr). The software development has been conducted by i4 Company (i4.com.tr). The intellectual property rights of PRICOVIS belong to TUBITAK. This version of PRICOVIS is free to use for educational and research purposes by acknowledging TUBITAK and METU Project Risk Research Group in related publications.
The algorithm of PRICOVIS has been developed based on the information related to 12 mega construction projects and 20+ years of experience of the research team in the construction sector. When a user enters complexity-related information, risks are automatically assessed, and finally, project cost contingency is estimated considering the contractual factors and expected cost impacts assigned by the user. A risk-complexity map is presented as a visual aid to assist decision-makers at the bidding stage. Please keep in mind that the estimated cost contingency is by no means exact, rather it is an indicative value calculated with user-fed information and assumptions made. PRICOVIS is recommended to be used during project risk assessment as a tool to visualize risk-related information, foster brainstorming between project participants and conduct what-if analysis.
The data entered in PRICOVIS is not stored and by no means used/shared with third parties. Confidential information about users and projects is not collected in any part of the tool.
Requests for commercial use of advanced versions of PRICOVIS and feedback shall be directed to Prof. Dr. Irem Dikmen Toker (Project Coordinator) via e-mail (firstname.lastname@example.org).